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TECHS: Price Signal Summary - USD In Firm Bull Mode

MARKET INSIGHT
  • In the FX space, EURUSD is weaker again today and has cleared the key support at 1.1952, Feb 5 low.
    • This confirms a resumption of the downtrend that started January 6. Attention is on 1.1908, Nov 2 low and 1.1882, Nov 25 low.
  • USDJPY continues to defy gravity and is through 108.00. The pair is approaching 108.54 Jun 9, 2020 high. Scope is also seen for a climb to 109.70 further out, Jun 8, 2020 high.
  • Note that in the USD Index, key resistance at 91.60, Feb 5 high has been breached, reinforcing the current bullish USD sentiment.
  • On the commodity front, Gold remains in a clear downtrend and has cleared $1700.00. This suggests scope for $1671.0, Jun 5, 2020 low. Oil contracts are firmer with fresh 2021 highs printed. Brent (K1) targets the psychological $70.00 handle next while WTI (J1) is approaching the next resistance at $65.65 - Jan 8, 2020 high (cont).
  • In the FI space, recent gains in Bunds (H1) are still considered corrective. Wednesday's sell-off signals the potential end of this correction. Key resistance has been defined at 174.97, Mar 3 high. Gilts (M1) remains bearish. Scope is for a move towards 127.00. Resistance is at 129.27, Tuesday's high. Treasuries remain within the body of price action from Feb 25. In candle terms the pattern on this day is a bearish standard line - a continuation pattern. Attention is on 131-31, Feb 25 low. Key S/T resistance is at 134-06+, the Feb 25 high.
  • In the equity space, the EUROSTOXX50 index remains below key resistance at 3742.53, Feb 15 high and the bull trigger. Key support to watch is at 3622.24, Feb 26 low. E-mini S&P futures remains heavy and this week's leg lower has exposed the key support at 3656.50, Feb 1 low
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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